Strs Ohio bought a new stake in shares of CymaBay Therapeutics Inc (NASDAQ:CBAY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,200 shares of the biopharmaceutical company’s stock, valued at approximately $230,000.
Several other large investors also recently bought and sold shares of CBAY. Redmile Group LLC grew its holdings in CymaBay Therapeutics by 47.6% in the 1st quarter. Redmile Group LLC now owns 2,955,565 shares of the biopharmaceutical company’s stock worth $38,393,000 after buying an additional 953,300 shares in the last quarter. Franklin Resources Inc. grew its holdings in CymaBay Therapeutics by 24.2% in the 1st quarter. Franklin Resources Inc. now owns 1,798,700 shares of the biopharmaceutical company’s stock worth $23,365,000 after buying an additional 350,000 shares in the last quarter. Foresite Capital Management III LLC grew its holdings in CymaBay Therapeutics by 160.3% in the 1st quarter. Foresite Capital Management III LLC now owns 1,562,040 shares of the biopharmaceutical company’s stock worth $20,291,000 after buying an additional 962,040 shares in the last quarter. BlackRock Inc. grew its holdings in CymaBay Therapeutics by 69.3% in the 1st quarter. BlackRock Inc. now owns 1,169,203 shares of the biopharmaceutical company’s stock worth $15,187,000 after buying an additional 478,524 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in CymaBay Therapeutics by 1,666.5% in the 1st quarter. Millennium Management LLC now owns 1,160,275 shares of the biopharmaceutical company’s stock worth $15,072,000 after buying an additional 1,094,594 shares in the last quarter. 95.48% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on CBAY. Oppenheimer set a $20.00 price objective on CymaBay Therapeutics and gave the stock a “buy” rating in a report on Friday. BidaskClub raised CymaBay Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 15th. Zacks Investment Research raised CymaBay Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. Raymond James initiated coverage on CymaBay Therapeutics in a report on Thursday, June 28th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Piper Jaffray Companies upped their target price on CymaBay Therapeutics to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. CymaBay Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $21.88.
In other news, VP Daniel Menold sold 5,000 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $13.00, for a total value of $65,000.00. Following the completion of the sale, the vice president now owns 5,000 shares in the company, valued at $65,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is owned by corporate insiders.
Shares of NASDAQ:CBAY traded down $0.15 on Friday, reaching $10.60. 277,720 shares of the company traded hands, compared to its average volume of 887,908. The company has a market capitalization of $654.30 million, a PE ratio of -13.42 and a beta of 2.01. CymaBay Therapeutics Inc has a fifty-two week low of $7.63 and a fifty-two week high of $15.59.
CymaBay Therapeutics (NASDAQ:CBAY) last released its earnings results on Friday, August 10th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.04). As a group, research analysts expect that CymaBay Therapeutics Inc will post -1.19 earnings per share for the current fiscal year.
About CymaBay Therapeutics
CymaBay Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and providing therapies to treat liver and other chronic diseases. Its lead product candidate is seladelpar, a selective agonist of peroxisome proliferator-activated receptor delta, which has completed Phase II clinical study for the treatment of primary biliary cholangitis, as well as patients with nonalcoholic steatohepatitis.
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